Bradley Foster & Sargent Inc. CT lowered its holdings in shares of Cigna Corp (NYSE:CI) by 0.6% during the first quarter, HoldingsChannel.com reports. The firm owned 28,550 shares of the health services provider’s stock after selling 184 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Cigna were worth $4,591,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CI. Oregon Public Employees Retirement Fund raised its position in shares of Cigna by 42,687.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,752,725 shares of the health services provider’s stock worth $167,000 after purchasing an additional 31,678,514 shares during the period. BlackRock Inc. raised its position in shares of Cigna by 59.4% during the fourth quarter. BlackRock Inc. now owns 26,892,201 shares of the health services provider’s stock worth $5,107,369,000 after purchasing an additional 10,021,719 shares during the period. Norges Bank acquired a new stake in shares of Cigna during the fourth quarter worth about $737,238,000. Macquarie Group Ltd. raised its position in shares of Cigna by 1,413.5% during the fourth quarter. Macquarie Group Ltd. now owns 3,711,240 shares of the health services provider’s stock worth $704,890,000 after purchasing an additional 3,466,030 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Cigna by 179.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,456,861 shares of the health services provider’s stock worth $846,447,000 after purchasing an additional 2,860,291 shares during the period. 88.61% of the stock is currently owned by institutional investors.
Shares of Cigna stock opened at $158.80 on Tuesday. Cigna Corp has a 52-week low of $141.95 and a 52-week high of $226.60. The company has a market capitalization of $58.08 billion, a P/E ratio of 11.17, a PEG ratio of 0.74 and a beta of 0.69. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.89.
The company also recently announced a special dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, March 11th were given a $0.04 dividend. The ex-dividend date was Friday, March 8th. Cigna’s dividend payout ratio is presently 0.28%.
A number of equities research analysts have recently commented on the company. Zacks Investment Research lowered Cigna from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Stephens assumed coverage on Cigna in a research report on Monday, January 14th. They set an “overweight” rating and a $251.00 price target on the stock. Goldman Sachs Group reaffirmed a “buy” rating on shares of Cigna in a research report on Saturday, February 2nd. Morgan Stanley dropped their price target on Cigna from $304.00 to $299.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 5th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $250.00 price target on shares of Cigna in a research report on Monday, January 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cigna currently has a consensus rating of “Buy” and a consensus target price of $225.62.
In other Cigna news, Director William D. Zollars sold 272 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $168.43, for a total value of $45,812.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Partridge sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $184.43, for a total value of $184,430.00. The disclosure for this sale can be found here. In the last three months, insiders sold 10,420 shares of company stock worth $1,886,122. 0.80% of the stock is owned by insiders.
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Cigna Company Profile
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
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